Paris: Embattled French President Emmanuel Macron announced a series of strong financial measures yesterday in a bid to defuse the “yellow vest” protests which have roiled the country.
In a 15-minute televised speech from the Elysee Palace, a sombre-looking president struck a more humble tone than usual as he sought to address criticism of his style of leadership.
“I know that I have hurt some of you with my statements,” he said.
He stressed, however, that the protests by mostly low-income people in small town or rural France were the result of long-term problems.
“Their distress doesn’t date from yesterday. We have ended up getting used to it,” he said.
“These are 40 years of malaise that have come to the surface.”
Among the measures Macron announced to address the crisis was a 100 euro ($113 dollar) monthly increase in the minimum wage as of next year, for which businesses would not have to foot the bill. The minimum wage was set at 1,498 euros per month pre-tax in 2018 and 1,185 euros after tax.
Macron also announced he would roll back most of an unpopular increase in taxes on pensioners which was introduced by his government.
And he called on all businesses “that can afford it” to give employees a one-off “end of year bonus” which would then be tax free.
In another move to appease the protesters’ anger, Macron said he would do away with all wage taxes on overtime work, a measure first introduced under former conservative president Nicolas Sarkozy but later reversed under his socialist successor Francois Hollande because it was deemed too expensive.